Adevinta (Buy, TP: NOK120.00) - Mobile accelerating
Adevinta’s Q1 results were just above consensus expectations, with unchanged guidance. We reiterate our BUY and have raised our target price to NOK120 (115), reflecting our increased SOTP owing to the recent weakening of the NOK versus the EUR.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
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